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George Dayton. / 44.93611°N 93.29917°W / 44.93611; -93.29917. George Draper Dayton (March 6, 1857 – February 18, 1938) was an American businessman and philanthropist, most famous for being the founder of Dayton's department store, which later became Target Corporation. [1] [2]
The company is one of the largest American-owned private employers in the United States. The corporation was founded in Minneapolis by businessman George Dayton in 1902, and developed through the years via expansion and acquisitions. Target, the company's first discount store and eventual namesake, was opened in 1962.
- June 24, 1902; 121 years ago (corporation), May 1, 1962; 61 years ago (store)
- US$109.1 billion (2022)
- 440,000 (2023)
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- 1902–1961: Dayton Company
- 1962–1975: Founding of Target
- 1975–1981: Early Prosperity
- 1982–1999: Nationwide Expansion
- 2000–2011: Target Corporation
- 2011–2015: Initiatives, Canada and Data Breach
- 2016–2020: Later Years
- 2020–Present
The Westminster Presbyterian Church in downtown Minneapolis burned down during the Panic of 1893; the church was looking for revenue because insurance would not cover the cost of a new building. Its congregation appealed to George Dayton, an active parishioner, to purchase the empty corner lot adjacent to the original church's so it could rebuild; ...
While working for the Dayton company, John F. Geisse developed the concept of upscale discount retailing. On May 1, 1962, the Dayton Company, using Geisse's concepts, opened its first Target discount store, located at 1515 West County Road B in Roseville, a suburb of Saint Paul, Minnesota. The name "Target" originated from Dayton's publicity direct...
In 1975, Target opened two stores, reaching 49 units in nine states and $511 million (~$2.17 billion in 2023) in sales. That year, the Target discount chain became Dayton-Hudson's top revenue producer. In 1976 Dayton-Hudson was the eighth largest retailer in the U.S., and Target opened four new units and reached $600 million (~$2.41 billion in 2023...
Since the launch of Target Stores, the company had focused its expansion in the central United States. In 1982, it expanded into the West Coast market by acquiring 33 FedMart stores in Arizona, California, and Texas and opening a fourth distribution center in Los Angeles. Bruce Allbright returned to Target Stores as its vice chairman and chief admi...
In January 2000, Dayton-Hudson Corporation changed its name to Target Corporation and its ticker symbol to TGT; by then, between 75 percent and 80 percent of the corporation's total sales and earnings came from Target Stores, while the other four chains—Dayton's, Hudson's, Marshall Field's, and Mervyn's—were used to fuel the growth of the discount ...
On January 22, 2014, Target "informed workers that it is terminating 475 positions at its offices globally". On March 5, 2014, Target Corp.'s chief information officer Beth Jacob resigned, having been in the role since 2008; this is thought to be due to the company's overhaul of its information securitysystems. On June 15, 2015, CVS Healthannounced...
On October 2, 2017, Target announced a new online order service, Drive Up, that allows guests to order merchandise online for pickup outside the store. Guests hit the 'I'm on My Way' button en route to their store. They pull into designated parking spots out front, and soon a Target team member comes out to greet them with their order. On October 1...
On March 13, 2020, Brian Cornell (CEO) took part in then-President Trump's address on the COVID-19 pandemic. Target, along with competitors Walmart, CVS Pharmacy, and Walgreens, would take part in using their stores for testing of COVID-19. On July 16, 2020, Target joined other major retailers in requiring all customers to wear masks in its U.S. st...
Driven by a renewed focus on signature brands and partnerships, Target rebounded to become a leader in retail's pandemic shakeup. Guiding Target into its second century, Cornell aims to cement its reputation as a durable retail innovator. From founder George Dayton to current chief Brian Cornell, Target’s leaders drove its growth from a 1902 ...
1902-06-24 Target Corporation is founded by American businessman George Dayton as Goodfellow Dry Goods in Minneapolis. Dayton was the founder of what would become Target Corporation, one of the most successful retail companies in America. Originally hoping to be a minister,...
One of the first advertisements for the Minnesota Loan and Investment Co. that was started by George D. Dayton. (1884) In 1889, George and Emma welcomed a fourth child into their family. Due to an enlarging family or wanting to support growing areas of the community, George made plans to build a house, his third home since moving to Worthington.
